Team

The Millennium team blends deep experience in venture and technology investing with the financial sophistication that comes from similarly deep experience in private equity and investment banking. Members of the Millennium team have been involved with every type and stage of venture capital, growth equity, and private equity investment, from startups to public companies. As entrepreneurs, members of Millennium’s team have founded, grown and successfully exited numerous technology companies.

Samuel Schwerin

Managing Partner & Founder

Sam Schwerin is co-founder and Managing Partner of Millennium Technology Value Partners. He is a seasoned executive with significant experience in private equity, investment banking, restructuring, turnarounds, and operational management in prior roles at The Blackstone Group, Salomon Brothers and StorageApps. In total, he has completed more than 300 transactions involving in excess of $50 billion of principal investments, mergers, acquisitions, restructurings, and debt and equity financings.

Sam is a frequent speaker and commentator on the need for innovation within the private equity ecosystem. Under his leadership, Millennium has become a recognized leader and pioneer of the secondary market for venture capital and growth equity assets. Since 2001, Sam has served as a trusted partner and advisor to many of the world's leading technology companies and their shareholders as they have considered growth financings, debt capital and alternate liquidity solutions.

Sam was previously with The Blackstone Group where he focused on a combination of venture capital investments and multi-billion dollar merger and acquisitions advisory assignments. He also worked at Salomon Brothers in the Mergers & Acquisitions and Leveraged Finance groups, in addition to executing corporate and municipal restructurings, and the firm's own principal and bridge loan investments.

Sam has been involved in the founding or management of several successful technology companies, including StorageApps, a pioneering storage virtualization and network management company acquired by Hewlett-Packard in a transaction valued at $350 million.

Sam earned his Master of Business Administration from The Wharton School at the University of Pennsylvania and a Bachelor of Science from Lehigh University. He has been a member of the Council on Foreign Relations and the Lehigh Leadership Council.

Daniel Burstein

Managing Partner & Founder

Dan Burstein co-founded Millennium Technology Value Partners with Sam Schwerin in 2002. He has been actively involved in many of Millennium's most important investments including Facebook (NASDAQ: FB) and Alibaba (NYSE: BABA), and led the firm's investment in Twitter (NYSE: TWTR).

Before Millennium, Dan was Senior Advisor at The Blackstone Group, where he worked for 12 years in a variety of capacities. Over the course of his career, he has been a consultant to the CEOs and senior executives of major global corporations including Sony, Toyota, Microsoft, and Sun Microsystems.

During the last two decades, Dan has served on more than a dozen public and private company boards. He has also been a forum fellow at the World Economic Forum in Davos and has been honored many times for his books and journalistic work, including awards from the Overseas Press Club and Sigma Delta Chi. He and Sam Schwerin have co-authored several thought-leading articles and white papers on the Direct Secondary Market and the ever-growing, ever-evolving role of alternative liquidity solutions to address the needs of constituents in the venture capital ecosystem.

Dan has made personal venture capital investments since 1983, when he first worked as a consultant in Silicon Valley. He began making institutional venture capital investments in the second half of the 1990s. He articulated and led an investment thesis that focused on early stage companies building backbone infrastructure for the internet and enhancing the security, reliability, and user experience of the web. The small funds he led experienced extraordinary returns available in that time period for this investment thesis.

The New York Times bestselling author of 14 books, Dan has written about technology trends, global economic issues, and popular culture. Among his path-breaking books are Yen! a 1988 global bestseller about the rise of Japanese financial power; Road Warriors, a 1995 book about the birth of digital media and the internet; Big Dragon, a 1998 book about China's future; Secrets of the Code, a 2004 guidebook to the Da Vinci Code that was on the New York Times bestseller list for six months; Blog! a pioneering 2005 book about the birth of social media; and Secrets of 24, about the political, moral, and technological issues in the TV series "24." His 2011 book, THE TATTOOED GIRL: The Enigma of Stieg Larsson and the Secrets Behind the Most Compelling Thrillers of our Time, was nominated for the prestigious Edgar Award from the Mystery Writers of America. His most recent book is Secrets of Inferno: In the Footsteps of Dante and Dan Brown (2013). His books have been published in 33 languages and several have been turned into documentary films. He is a frequent speaker at venture capital events and is often asked to help judge venture capital competitions. He has made numerous TV appearances on CNN, CNBC, MSNBC, and the History Channel and has written more than a thousand articles for well-known magazines and newspapers.

Actively involved in several community initiatives in Connecticut where he lives, Dan was a founding Board member of the Weston Education Foundation and served on the Advisory Board for the Westport Youth Film Festival (WYFF) from its inception in 2004 to 2011. He was honored with WYFF’s Founder’s Award for his community service.

AlwaysOn has named Dan to its lists of the "Power Players" in New York’s venture capital community, the top 100 Power Players in Digital Media, and the top venture capitalists in the U.S.

Jon has more than 15 years of experience in managing the financial operations of private equity funds. Prior to joining Millennium in 2008, Jon was the Vice President of Finance and Tax and Controller of Venrock, one of America’s oldest and most prestigious venture capital firms. Jon played a significant and diversified role in managing Venrock’s financial reporting, portfolio monitoring, and performance functions, overseeing Venrock’s operations, and managing its capital calls and distributions. Jon’s role at Venrock included leading the Firm’s tax function by serving as the point person on transaction structuring, international initiatives, fund liquidation, tax withholding for foreign partners, limited partner and general partner tax planning. Before Venrock, Jon was Controller for Greenbriar Equity Group, a private equity fund focused on transportation companies. Jon’s career includes seven years of Big Four public accounting experience. As a tax manager with Deloitte & Touche, Jon focused on serving private equity clients and other investment partnerships as well as investment banking clients focusing on corporate activities and complex transactions.

Jon earned his Master in Business Administration from Fordham University and a Bachelor’s of Science from Boston University. He is a Certified Public Accountant and is a member of the American Institute of Certified Public Accountants (AICPA).

Ray Cheng

Partner

Ray Cheng joined Millennium in 2012. Ray led the firm's investments in Pentaho, PrecisionHawk, Blackmore Sensor & Analytics, Phantom AI, BigCommerce, and actively manages a number of portfolio companies.

Prior to Millennium, Ray spent three years with Rho Ventures where he was a Senior Analyst in their New York office. At Rho, Ray focused on investments in internet companies, software services and clean technology. He was involved with Rho’s investments in OMGPOP (acquired by Zynga), Precision Demand (acquired by AOL), SolarBridge (acquired by SunPower), ChargePoint, Vidyo and Enerkem.

Ray also serves as a founding-advisor to Komodo Health, and was previously an advisor to HackHands, which was acquired by Plursalsight in July 2015.

While earning his degrees, Ray served as an Engagement Manager for the Wharton Small Business Development Center. He also interned as an investment banking analyst for JPMorgan, Merrill Lynch, and BNP Paribas.

Ray graduated from the University of Pennsylvania with a Bachelor of Science in Economics from The Wharton School and a Bachelor of Science in Electrical Systems Engineering from the School of Engineering and Applied Sciences.

Joseph Kao

Principal

Joe Kao joined Millennium in 2008 and focuses on investments in enterprise software and new financial technologies and markets. He is active in managing Millennium’s investments in Lookout, Hootsuite, Cloudreach, and Legalzoom and sits on the Board of Directors of Jumio.

Previously, Joe was with Garnett & Helfrich Capital, where he specialized in venture buyout transactions. He sourced and evaluated new investments, mainly in the areas of IT infrastructure, application software, and mobility, and worked closely with portfolio company managers on strategic and operational initiatives.

Prior to Garnett & Helfrich, Joe worked in the mergers and acquisitions group at Credit Suisse, with a primary focus on clients in the technology and pharmaceutical industries. He advised clients on buy-side, sell-side, and strategic advisory assignments, resulting in over $7.5 billion of aggregate transaction value. Joe was also a management consultant at McKinsey and Company.

Joe earned his Master of Business Administration from The Wharton School at the University of Pennsylvania and a Bachelor of Arts from Stanford University, where he was a President’s Scholar. He was also a member of the men’s varsity tennis team at Stanford.

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